Blue Arrow Group-Jinja
The hardworking Moses says he was formerly employed at a local factory. This, he says, gave him some firsthand experience on how to run a business. The happily married father of two says he makes 54,000 UGX in weekly profits. Moses says that he does not waste the money he earns but uses it for his family especially in times of necessity such as for school fees. With this loan he will pay off his debts to the local council administration. He is grateful that he is a part of his group.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid